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24-02-23, 08:57
Four-bedder at Ardmore II rakes in $2.1 mil profit
February 24, 2023
https://i.imgur.com/kVTx2wT.jpg
The sale of a four-bedroom apartment at Ardmore II was the most profitable condo resale transaction recorded during the week of Feb 7 to 14. The 2,024 sq ft unit on the eighth floor changed hands for $6.28 million ($3,103 psf) on Feb 8. It was purchased by the seller in October 2006 for $4.21 million ($2,082 psf). This means they made a profit of $2.07 million (49%) over a holding period of more than 16 years.
This marks the second most profitable transaction ever recorded at Ardmore II. The most profitable transaction took place in August 2007, when a 2,024 sq ft unit on the 26th floor was sold for $7.28 million ($3,599 psf). It was purchased in October of the previous year for $4.65 million ($2,299 psf), which means the seller made a gain of $2.63 million.
Ardmore II is a freehold luxury development by Wheelock Properties in the exclusive Ardmore Park area in District 10. Completed in 2010, it has a total of 118 units, all of which are identical four-bedroom units of 2,024 sq ft. The 36-storey twin tower project is located a few minutes’ walk away from Orchard Road.
The Feb 8 transaction is the first at Ardmore II this year. In 2022, four resale transactions occurred at the development, all of which were profitable. The units were priced at between $6 million ($2,965 psf) and $6.85 million ($3,385 psf), with the sellers netting gains of between $300,000 and $1.65 million respectively.
The second most profitable transaction during the period in review occurred at Regency Suites. A 1,421 sq ft unit on the 13th floor fetched $2.97 million ($2,089 psf) on Feb 9. The three-bedroom unit was purchased in November 2005 for $970,000 ($683 psf). Thus, the seller netted a gain of 206%, or just under $2 million, across a holding period of over 17 years.
The transaction is the most profitable one at Regency Suites thus far. Prior to this, the most profitable transaction was the sale of a 1,421 sq ft unit on the 31st floor for $2.7 million ($1,900 psf) in March 2020. The seller, who had bought the unit in December 2005 for $1.08 million ($760 psf), made a gain of $1.62 million.
Regency Suites is a freehold development along Kim Tian Road, off Tiong Bahru Road in District 3. It was completed in 2008 with a total of 84 residences. The units comprise a mix of one- to four-bedders, ranging from 592 to 4,532 sq ft.
More at: https://www.edgeprop.sg/property-news/four-bedder-ardmore-ii-rakes-21-mil-profit
February 24, 2023
https://i.imgur.com/kVTx2wT.jpg
The sale of a four-bedroom apartment at Ardmore II was the most profitable condo resale transaction recorded during the week of Feb 7 to 14. The 2,024 sq ft unit on the eighth floor changed hands for $6.28 million ($3,103 psf) on Feb 8. It was purchased by the seller in October 2006 for $4.21 million ($2,082 psf). This means they made a profit of $2.07 million (49%) over a holding period of more than 16 years.
This marks the second most profitable transaction ever recorded at Ardmore II. The most profitable transaction took place in August 2007, when a 2,024 sq ft unit on the 26th floor was sold for $7.28 million ($3,599 psf). It was purchased in October of the previous year for $4.65 million ($2,299 psf), which means the seller made a gain of $2.63 million.
Ardmore II is a freehold luxury development by Wheelock Properties in the exclusive Ardmore Park area in District 10. Completed in 2010, it has a total of 118 units, all of which are identical four-bedroom units of 2,024 sq ft. The 36-storey twin tower project is located a few minutes’ walk away from Orchard Road.
The Feb 8 transaction is the first at Ardmore II this year. In 2022, four resale transactions occurred at the development, all of which were profitable. The units were priced at between $6 million ($2,965 psf) and $6.85 million ($3,385 psf), with the sellers netting gains of between $300,000 and $1.65 million respectively.
The second most profitable transaction during the period in review occurred at Regency Suites. A 1,421 sq ft unit on the 13th floor fetched $2.97 million ($2,089 psf) on Feb 9. The three-bedroom unit was purchased in November 2005 for $970,000 ($683 psf). Thus, the seller netted a gain of 206%, or just under $2 million, across a holding period of over 17 years.
The transaction is the most profitable one at Regency Suites thus far. Prior to this, the most profitable transaction was the sale of a 1,421 sq ft unit on the 31st floor for $2.7 million ($1,900 psf) in March 2020. The seller, who had bought the unit in December 2005 for $1.08 million ($760 psf), made a gain of $1.62 million.
Regency Suites is a freehold development along Kim Tian Road, off Tiong Bahru Road in District 3. It was completed in 2008 with a total of 84 residences. The units comprise a mix of one- to four-bedders, ranging from 592 to 4,532 sq ft.
More at: https://www.edgeprop.sg/property-news/four-bedder-ardmore-ii-rakes-21-mil-profit